Another stock that insiders are loading up in here is medical equipment and supplies player Nanosphere (NSPH - Get Report), which develops, manufactures, and markets molecular diagnostics platform, the Verigene System that enables genomic and protein testing on a single platform. Insiders are jumping into this stock into strength since shares are up 36% so far in 2012.
Nanosphere has a market cap of $87 million and an enterprise value of $52 million. This stock trades at a fair valuation, with a price-to-sales of 26.43 and a price-to-book of 2.21. Its estimated growth rate for this year is 18.1%, and for next year it's pegged at 24.7%. This is a cash-rich company, since the total cash position on its balance sheet is $31.76 million and its total debt is zero.A director and beneficial owner just bought 342,500 shares, or around $598,000 worth of stock, at $1.75 per share. >>5 Stocks Setting Up to Break Out From a technical perspective, NSPH is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been trading range bound for the past two months, with shares bouncing around $1.51 to $2 a share. Just recently, shares of NSPH have started to break out above some near-term overheads resistance $1.92 a share. That move is quickly pushing the stock within range of triggering an even bigger breakout trade. If you're in the bull camp on NSPH, I would look for long-biased trades if this stock can manage to trigger a break out above some near-term overhead resistance at $2.17 to $2.21 a share with high-volume. Look for volume on that move that hits near or above its three-month average action of 222,412 shares. If we get that action soon, then NSPH could easily tag its next significant overhead resistance levels at $2.41 to $3 a share or possibly even higher. One could also look to buy this stock off any weakness as long as some near-term support at $1.80 holds up. I would avoid this name if it takes out its 50-day at $1.76 and its 200-day at $1.61 with heavy volume.